Malone's Legacy at Liberty Media and Formula 1

(GMM) Formula 1’s parent company Liberty Media has announced a major leadership change, with long-time chairman John C. Malone (pictured) stepping down from the board at the end of the year.

Malone, who founded Liberty Media and oversaw its acquisition of Formula 1 in 2017, will transition to the role of Chairman Emeritus from January 1, 2026, the company confirmed in a statement.

He will be succeeded by Robert R. “Dob” Bennett, Liberty’s current vice chairman and one of its founding executives, who has been involved in key strategic decisions for more than three decades.

“Founding Liberty Media and serving as its Chairman has been among the most rewarding experiences of my professional life,” Malone, 84, said. “With the successful simplification of our portfolio and our operating businesses in positions of strength, I believe it’s an appropriate time to step back.”

Malone remains one of Liberty’s largest shareholders, controlling nearly half of the voting power in Formula 1 trading stocks. Bloomberg estimates his personal net worth at over $10 billion.